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Strong French PMIs beat forecasts

FRANCE DATA
MNI (London)

FEB FLASH SERVICES PMI 57.9; JAN 53.1

FEB FLASH MFG PMI 57.6; JAN 55.5

FEB FLASH COMPOSITE PMI 57.4; JAN 52.7

  • The preliminary French PMIs for February saw strong growth across the field, all coming in significantly stronger than the consensus forecasts. Strong demand and private sector output were the key drivers of growth.
  • Services grow to 57.9, outpacing the 54.0 forecasted and jumping 4.8 points from January. This is a 49-month high, with demand strengthening and Covid cases falling.
  • Manufacturing strengthened to a seven-month high of 57.6, up 2.1 points from the January print and February forecast which expected growth to remain unchanged.
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